The Australian shadow treasurer, Chris Bowen, today called again for a royal commission into the banks, part of which he hopes will look at improving whistleblower protection. Currently, despite the fact that the Australian Securities and Investment Commission (ASIC) investigates cases which have been referred to it by whistleblowers, it does not have the power to increase protections to the sources of their investigations. As Bowen said:
(the royal commission) would look at whistle blower protection and the terms of whether there should be any improvements to whistle blower protection. None of these things ASIC can look at. ASIC investigates individual cases; it does not investigate structural and systemic issues.
A full transcript of the interview is available from ABC News
Whistleblower protection in Australia is a structural and systemic issue. We encourage the government to consider the Shadow Treasurer’s view.